Dear Experts,
I am planning to rent out a small commercial building. They are going to run a shop selling some goods. To protect the owner's interest, L.L agreement seems to be a better options than Lease agreement.
But making a valid L.L agreement seems difficult, especially if any dispute goes to court. Licensee could claim the agreement as "lease" agrement, stating the nature of agrement was actually "lease" and not L.L. This would prolong the case, as it is in Civil court.
So, what are all the precautions and conditions agreement should have to really become an L.L agreement, and not be interpreted as "lease". I read other blogs that terms like "rent", "tenant" should not be used. But really think problem is much more than that.
regards
